Tax competition - Greenfield investment versus mergers and acquisitions

被引：11

作者：

Becker, Johannes ^{[1
]}

Fuest, Clemens ^{[2
]}

机构：

[1] Univ Munster, Inst Publ Econ 1, D-48143 Munster, Germany

[2] Univ Oxford, Ctr Business Taxat, Said Business Sch, Oxford OX1 1HP, England

来源：

REGIONAL SCIENCE AND URBAN ECONOMICS | 2011年 / 41卷 / 05期

关键词：

Corporate taxation; Mergers and acquisitions; Tax competition; FOREIGN DIRECT-INVESTMENT; CROSS-BORDER MERGERS; INTERNATIONAL TAXATION; CAPITAL INCOME; REFORM; POLICY; OWNERSHIP; PROFITS; RULES; MODES;

D O I：

10.1016/j.regsciurbeco.2011.03.005

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

In this paper, we analyse tax competition in a model where investor firms have the choice between two types of investment, greenfield investment and mergers and acquisitions. We show that the coexistence of these two types of investment intensifies tax competition in comparison to the case where there is only greenfield investment. If a specific tax on acquisitions is available, this result changes. Then, tax competition is mitigated compared to the pure greenfield case. The existence of an acquisition tax may even lead to corporate overtaxation. (C) 2011 Elsevier B.V. All rights reserved.

引用

页码：476 / 486

页数：11

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